OMCS DISAPPOINTED BY MINISTRY OF ENERGY’S SILENCE REGARDING REVIEW OF FUEL PRICING MODEL
By Tellah Hazinji
The Oil Marketing Companies Association of Zambia-OMCAZ- is disappointed by the ministry of energy’s silence concerning the review of the fuel pricing model over one year after the presidential directive.
In October 2023, President Hakainde Hichilema directed Energy Permanent Secretary Peter Mumba, to come up with a more stable fuel price review period noting that the current monthly review of fuel prices was pushing the cost-of-living high, inflation and commodities on the local market.
OMCAZ President Dr. Kafula Mubanga tells Phoenix News in an interview that the government through the ministry has noted stated where the challenge is or what has caused the delay despite several calls by various stakeholders on the matter.
Dr. Mubanga says there have been suggestions from market players and other stakeholders to initiate a quarterly review which he says may benefit both the sector players and consumers but that no concrete response has been given so far.
He has challenged the Energy Permanent Secretary to respond to the issue and present his findings against the two pricing models, the monthly and quarterly review.
PHOENIX NEWS